$ETH 5-minute trading value was about $288 million, 9.7 times the previous average; the price was almost unchanged over the same period.
I used to think that a surge in volume meant people were buying. It took me a while to understand: every trade has both a buyer and a seller. Higher volume only means more turnover; to tell whether buyers or sellers are more eager, you have to look at how the price moves.
Whether trading volume increases during a breakout is often considered one of the factors for distinguishing a genuine breakout from a false one: a move above a level on low volume is more likely to fall back.
The same reading can mean very different things in different market conditions, so don't apply any single rule mechanically.
I used to think that a surge in volume meant people were buying. It took me a while to understand: every trade has both a buyer and a seller. Higher volume only means more turnover; to tell whether buyers or sellers are more eager, you have to look at how the price moves.
Whether trading volume increases during a breakout is often considered one of the factors for distinguishing a genuine breakout from a false one: a move above a level on low volume is more likely to fall back.
The same reading can mean very different things in different market conditions, so don't apply any single rule mechanically.